ABL Bio Technologies Board approves rights issue

ABL Bio Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on April 19, 2007, has accorded approval for raising the resources to the extent of Rs 90 crores by way of issue of Equity Shares & Convertible Warrants on "Rights Basis".

The Board has also constituted a Committee of Directors and vested with it, the powers to decided the quantum, structure and pricing of the instruments.

The stock closed the day at Rs.112, down by Rs.5.85 or 4.96%. The stock hit an intraday high of Rs.117 and low of Rs.112. The total traded quantity was 26323 compared to 2 week average of 43754.

Source : Equity Bulls

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